Amendment status not verified — confirm the current text below against the official source.
(1) The B a N shall mect at such times aqd places, aati,,sbaJ, sybjq $0 E F : ~ ~ : ~ the provirioni d sub-bectian (2), observe such rules of procedure in regakd to the trauqc$ion of its !us!nesa . . , may . . be provided byregvhtitim macie . . . pnder this Act. (2) :A Dj; ector, wile is,direc t13 or indirefitly concerned or ,intemsJ.ed :k any ~antufl, a loan, atrangeLmeat' ,,or -proposal- enter& Into or proposeJ .to be,pn~rqd jet?, .by orgn . kmlf of -'the Chrpo~.tton, shall .qt the earliest powble omrwpity ,,d!sBcl.qse 'fie mture of hs interesr to the Bo~rd, and shall not be gresentrit any meetbof the B e d when as3 such mntrtict, l~an~arrangement , or propqsal is dis:u:sed, -unless ,Ids. ,presence .is required ,bo -the other D~rectors for tht purpose df eliiitiq@.~dormatio~r, , ' '-but ub .Director so :required tojbe present - . ihshall vote, .on b y such ,contradC-!o,&, anangeaont . : or i ?roposal; . , ., I , , . . . , - ' 1 , . L .. THE JIORISSX-' INDUSTRIAL INFRASTRUCTURE DEVELOP= : CORPORATION Am, 1980 ['Oiissa-Act' of-1981'1 ( S e a . 8 -13 1 egM",, , : 8. If . s - Director- . "- - (a) become3 subject to any of thc iceisqual16ition!: mentioned in section 5 ; or (b) tenders his resi~;natica, m writing to, such resignatiau is acceptcd by the Sbte Government ; or . , - (c) is absent without the Buud's petmidion from three consealive meetings of the Board, or from all mectiw .of thc Board for three consecutive montbs ; or . . . . .. . (6) is convicted of an gffence involving mor..l hupi~ude, he shall cean to be s member of ,.the goard. V d '